Piper Alderman (New South Wales, Australia) is currently acting for Beach Energy Limited (Beach) in an on-market takeover of Adelaide Energy in a deal valued at $94m.
Beach already own 19.5% of Adelaide Energy’s shares, and have offered $0.20 per share which will stand until 22 December 2011.This takeover is part of Beach’s strategy to increase exploration and development activities for unconventional gas in Queensland and South Australia, where Adelaide Energy currently have interests.
Corporate partner Robert Postema is leading this matter. He is being assisted by Senior Associate, Sina Kassra.
Robert commented:
“This takeover will be of significant benefit to both Beach and Adelaide Energy shareholders, and represents another step in Beach’s expansion of operations. We are delighted to have been able to advise Beach on another transaction as part of this growth strategy”.
Piper Alderman, who are recognised as a leading Energy and Resources firm in Australia, have been acting for Beach Energy for over 20 years. The firm also acted for Beach in their takeover of Impress Energy earlier this year.
Deal details
Client - Beach Energy Limited (ASX: BPT)
Value - $94m
Piper Alderman Team - Robert Postema, Partner and Sina Kassra, Senior Associate
